CORRECTIONS OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD ADJUSTMENTS (FINANCIAL REPORTING) AND PRIOR-YEAR ADJUSTMENTS (BUDGETARY REPORTING)

Page 1 of 32

1/21/2016

This scenario uses information from the August 2008 U.S. Government Standard General Ledger, which is a Supplement to the Treasury Financial Manual (TFM) 

See Transmittal Letter No. S2 08-03, Part 1, Section IV Budget Program and Financing (P&F) and Part II, Sections I through IV.

Background

Occasionally, financial statements and other Treasury central accounting documents require adjustments to correct errors that occurred in previous 

periods. The Federal Accounting Standards Advisory Board (FASAB) and the Office of Management and Budget (OMB) provide guidance to 

account for these events. 

Prior-Period Adjustments (PPAs)

In the Statement of Federal Financial Accounting Standards (SFFAS) No. 21, Reporting Corrections of Errors and Changes in Accounting 

Principles, Amendment of SFFAS No. 7, Accounting for Revenue and Other Financing Sources, FASAB amended the standard to “require that 

reporting entities restate prior-period financial statements for material errors discovered in the current period, if such statements are provided for 

comparative purposes, and if the effect would be material to the financial statements of either period.”1

Statement Presentation Table (for material errors only)

If Comparative Financial Statements Are 

Being Presented (that is, XX09 and XX08):

If Only Current Period Statements Are 

Being Presented (that is, XX09):

If the error occurred during the earliest 

affected period presented in the financial 

statements (that is, XX08):

Then, the adjustment is made to the earliest

affected period presented by correcting any 

individual amounts on the financial statements. 

(This scenario reflects this example.).

Then, the adjustment is made to the beginning 

balance of cumulative results of operations on 

line 2b (Corrections of Errors) of the SCNP. 

If the error occurred before the earliest 

period presented in the financial 

statements (that is, XX07):

Then, the adjustment is made to the beginning 

balance of cumulative results of operations on 

line 2b (Corrections of Errors) of the SCNP for 

the earliest period presented.

Then, the adjustment is made to the beginning 

balance of cumulative results of operations on 

line 2b (Corrections of Errors) of the SCNP.

Note: The Statement of Changes in Net Position (SCNP) current-year unadjusted beginning balance must agree with the restated ending balance 

shown on the prior-year SCNP.

 1 SFFAS No. 21, Reporting Corrections of Errors and Changes in Accounting Principles, paragraph no. 5
CORRECTIONS OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD ADJUSTMENTS (FINANCIAL REPORTING) AND PRIOR-YEAR ADJUSTMENTS (BUDGETARY REPORTING)

Page 2 of 32

1/21/2016

Prior-Year Adjustments (PYAs) OMB concluded that the existing practice of correcting errors for previous periods by recording prior fiscal year 

activity during a current fiscal year without specific identifying attributes distorted budgetary reporting. While the resulting misstatements of 

information were not always material in the context of financial statement reporting, they were significant in the context of budget reporting and 

execution. OMB Circular No.A-11 was updated in fiscal 2008 to provide budgetary reporting guidance for corrections of errors. The Bureau of 

Fiscal Service(Fiscal Service) issued TFM Volume I Bulletin No. 2008-05 to address processing backdated documents to a prior fiscal year. In 

addition, Fiscal Service updated the U.S. Government Standard General Ledger (USSGL), TFM Supplement No. 2, in December 2007 to provide 

specific information on the new PYA attribute required in the Federal Agencies' Centralized Trial-Balance System (FACTS) II and the crosswalks to 

the SF 133: Report on Budget Execution and Budgetary Resources.

PYA Attribute Definition for FACTS II Reporting

Use when changes to obligated or unobligated balances occurred in the previous fiscal year but were not recorded in the appropriate Treasury

Appropriation Fund Symbol (TAFS) as of October 1 of the current fiscal year or during the FACTS II revision window. Exclude upward and 

downward adjustments to current-year/prior-year obligations and most reclassifications from clearing accounts.

Domain Definitions

“B” – Adjustments to prior-year reporting backdated in Treasury’s Central Accounting system

Use when a PYA does affect the Fund Balance With Treasury (FBWT) and is backdated in Treasury’s Central Accounting system after the 

FACTS II revision window has closed for the period being adjusted.

“P” – Adjustments to prior-year reporting not backdated in Treasury’s Central Accounting system

Use when a PYA does not affect FBWT and is not backdated in Treasury’s Central Accounting system after the FACTS II revision window 

has closed for the period being adjusted.

“X” – Not an adjustment to prior-year reporting

Use when a PYA does not meet the requirements of domains “B” or “P” and for current-period activity.

Note: The flowchart on the following page can assist with determining:

1) Whether or not to restate prior-year financial statements;

2) Whether to use USSGL account 7400, “Prior-Period Adjustments Due to Corrections of Errors,” or a different account;

3) Which PYA attribute to use: and 

4) Which financial statement the collective information impacts.
CORRECTIONS OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD ADJUSTMENTS (FINANCIAL REPORTING) AND PRIOR-YEAR ADJUSTMENTS (BUDGETARY REPORTING)

Page 3 of 32

1/21/2016

FLOWCHART FOR CORRECTIONS OF ERRORS IN A PREVIOUS PERIOD

Restate

(Use USSGL

account 7400)

Is the event 

material to your 

agency’s 

financials?

YES NO

Is FBWT 

affected?

Is FBWT ≥ 

$500,000?

Do not request a 

backdated Treasury 

document –

Use PYA attribute 

domain value “P”

Do not restate –

Use current-year

USSGL

Request a backdated

Treasury document –

Use PYA attribute 

domain value “B”

YES

Do not request a 

backdated Treasury 

document -

Use PYA attribute 

domain value “X”

NO YES NO

 Restated: Y,N Transaction 1 

Not Restated: N,N Transaction 4

 Restated: Y,Y,Y Transaction 2

Not Restated: N,Y,Y Transaction 5

 Restated: Y,Y,N Transaction 3

Not Restated: N,Y,N Transaction 6
CORRECTIONS OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD ADJUSTMENTS (FINANCIAL REPORTING) AND PRIOR-YEAR ADJUSTMENTS (BUDGETARY REPORTING)

Page 4 of 32

1/21/2016

This document provides guidance for correcting both financial and budgetary reporting errors. The following scenario assumes the activity occurs in 

a no-year Treasury Account Symbol (TAS). As presented graphically in the previous flowchart, there are six different possible reporting outcomes

when correcting errors. The transactions, listed in the detailed chart below, correspond with the transaction numbers in the illustrative transaction 

section and represent each of the six possible outcomes. 

 

AFFECTS

PROPRIETARY

AFFECTS

BUDGETARY

Illustrative

Transaction

No. USSGL Account

Transaction

Amount

Is it 

Proprietarily

Material?2 Result

Is FBWTUSSGL 

Account 

1010 

Affected?

Is it

>$500,000? Results

1. 4901 Delivered OrdersObligations Unpaid $2,000,000 YESRestate

(Use Proprietary 

Account 7400)

NO Does Not

Apply

Not

Backdated –

Use Attribute

“P”

2. 4902 Delivered Orders –

Obligations Paid $7,000,000 YES

Restate

(Use Proprietary 

Account 7400)

YES YES

Backdated –

Use Attribute

“B”

3. 4902 Delivered Orders –

Obligations Paid $450,000 YES

Restate

(Use Proprietary 

Account 7400)

YES NO

Not

Backdated –

Use Attribute

“X”

4. 4901 Delivered Orders –

Obligations Unpaid $100,000 NO

Do Not Restate

(Proprietary Account 

7400 Not Used –

Run Through 

Current Year)

NO Does Not

Apply

Not 

Backdated –

Use Attribute

“P”

5. 4902 Delivered Orders –

Obligations Paid $500,000 NO

Do Not Restate

(Proprietary Account 

7400 Not Used –

Run Through 

Current Year)

YES YES

Backdated –

Use Attribute

“B”

6. 4902 Delivered Orders –

Obligations Paid $50,000 NO

Do Not Restate

(Proprietary Account 

7400 Not Used –

Run Through 

Current Year)

YES NO

Not Backdated 

–

Use Attribute

“X”

 2 Each agency should determine its materiality threshold. This scenario assumes that all “YES” answers in this column indicate the amount is material.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 5 of 32

January 25, 2009

Listing of USSGL Accounts Used In This Scenario

Account 

Number Account Name

Budgetary

4119

4201

Other Appropriations Realized

Total Actual Resources – Collected

4450 Unapportioned Authority

4510

4610

Apportionments

Allotments – Realized Resources

4901 Delivered Orders – Obligations, Unpaid

4902 Delivered Orders – Obligations, Paid

Proprietary

1010 Fund Balance With Treasury

2110 Accounts Payable

3100 Unexpended Appropriations – Cumulative

3101 Unexpended Appropriations – Appropriations Received

3107 Unexpended Appropriations – Used

3108 Unexpended Appropriations – Prior-Period Adjustments Due to Corrections of 

Errors

3310 Cumulative Results of Operations

5700 Expended Appropriations

5708 Expended Appropriations – Prior-Period Adjustments Due to Corrections of 

Errors

6100 Operating Expenses/Program Costs

7400 Prior-Period Adjustments Due to Corrections of Errors
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 6 of 32

January 25, 2009

Assumptions

For the illustrative transactions that begin on page 8, assume the following:

1. The materiality of a transaction, with respect to restatement requirements, is known when posted.

2. The agency’s accounting system for the prior-period cannot be reopened.

3. The activity occurs in a no-year TAFS.

4. Comparative financial statements are presented.

5. Budgetary transactions highlighted in light green are prior-year activities that flow to the “Prior-year Adjustments,” column 7 of the Financial 

System Activity and Trial Balance for Budgetary Accounts chart on page 14.

6. Proprietary transactions highlighted in blue are PPAs that a) require financial restatement, b) flow to the “FY09 Prior-period Adjustments,”

column 3 of the Work Paper Trial Balance for Proprietary Accounts chart on page 15, and c) are entered into the accounting system. 

7. “Work Paper Only” transactions highlighted in peach are PPAs that a) require restatement, b) flow to the “FY09 Prior-period Work-Paper 

Adjustments,” column 4 of the Work Paper Trial Balance for Proprietary Accounts chart on page 15, and c) are not entered in an agency’s 

accounting system. These transactions occur outside the system and are used in calculations to determine amounts to be presented in published 

restated financial statements and reports. When the agency’s system cannot be reopened, balances still must be impacted appropriately. However, 

current-period financial statements cannot be prepared directly from the agency’s accounting system. Therefore, Work Paper adjustments are 

necessary. 

8. All transactions not highlighted a) are current-year transactions, b) are posted in the accounting system, and c) do not fall into any of the three 

highlighted categories (green, blue, or peach).
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 7 of 32

January 25, 2009

Prior-Year Trial Balances

System Pre-Closing Trial Balance– Fiscal 2008

USSGL Account Debit

(in thousands)

Credit

(in thousands)

Budgetary

4119 X Other Appropriations Realized 12,000

4450 X Unapportioned Authority 11,000

4901 X Delivered Orders – Obligations, Unpaid 1,000

Total 12,000 12,000

Proprietary

1010 Fund Balance With Treasury 12,000

2110 Accounts Payable 1,000

3101 Unexpended Appropriations – Appropriations Received 12,000

3107 Unexpended Appropriations – Used 1,000

3310 Cumulative Results of Operations 0

5700 Expended Appropriations 1,000

6100 Operating Expenses/Program Costs 1,000

Total 14,000 14,000

System Post-Closing Trial Balance – Fiscal 2008 / Beginning Balance – Fiscal 2009

USSGL Account Debit

(in thousands)

Credit

(in thousands)

Budgetary

4201 Total Actual Resources – Collected 12,000

4450 X Unapportioned Authority 11,000

4901 X Delivered Orders – Obligations, Unpaid 1,000

Total 12,000 12,000

Proprietary

1010 Fund Balance With Treasury 12,000

2110 Accounts Payable 1,000

3100 Unexpended Appropriations – Cumulative 11,000

3310 Cumulative Results of Operations 0

Total 12,000 12,000
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 8 of 32

January 25, 2009

Illustrative Transactions

Financial Event Accounting Transaction Debit

(in thousands)

Credit

(in thousands)

Trans 

Code

A. Annual apportionment and allotment: OMB 

apportions and the agency head allots $10,100,000 of 

the $11,000,000 prior-year unobligated balance.

Generally, the initial apportionment will not include 

an amount to cover corrections of errors. The 

following entries in this scenario show that 

unapportioned authority is reclassified from the PYA 

attribute domain value “X” to the “P” or “B” domain 

value when a PYA transaction is processed.

SYSTEM ONLY ENTRIES

Budgetary 

4450X Unapportioned Authority 

 4510 Apportionments

4510 Apportionments 

 4610 Allotments – Realized Resources

10,100

10,100

10,100

10,100

A116

A120

1. During fiscal 2009, an error that occurred in fiscal 

2008 was discovered. The error understated expenses 

by $2,000,000. A bill for a delivered unpaid order had 

not been recorded. No prior related obligation had 

been previously recorded. The error is material and 

requires restatement of the proprietary financial 

statements. A budgetary entry also is required to 

reflect a beginning balance adjustment. The PYA 

attribute domain value “P” is used because FBWT is 

not affected. A matching backdated Treasury central

accounting document is not prepared after the FACTS

II revision period has closed for the period being 

corrected.

SYSTEM ONLY ENTRIES

Budgetary 

4450P Unapportioned Authority

 4450X Unapportioned Authority

4610 Allotments – Realized Resources 

 4901P Delivered Orders – Obligations, Unpaid

Proprietary (prior-year activity) 

7400 Prior-Period Adjustments Due to Corrections of Errors 

 2110 Accounts Payable 

3108 Unexpended Appropriations – Prior-Period 

 Adjustments Due to Corrections of Errors

 5708 Expended Appropriations – Prior-Period 

 Adjustments Due to Corrections of Errors

WORK PAPER ONLY ENTRIES

Proprietary

6100 Operating Expenses/Program Costs

 7400 Prior-Period Adjustments Due to Corrections of Errors

5708 Expended Appropriations – Prior-Period

 Adjustments Due to Corrections of Errors

 5700 Expended Appropriations 

3107 Unexpended Appropriations - Used

 3108 Unexpended Appropriations – Prior-Period

 Adjustments Due to Corrections of Errors

2,000

 

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

2,000

Footnote3

B402 without 

previously 

recording 

4801

D312

D304

 3 Transaction Codes (TCS) between the same USSGL accounts and differentiated by attributes only are not displayed in the USSGL TFM Section III.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 9 of 32

January 25, 2009

Financial Event Accounting Transaction Debit

(in thousands)

Credit

(in thousands)

Trans 

Code

2. During fiscal 2009, an error that occurred in fiscal 

2008 was discovered. It understated expenses and 

overstated cash by $7,000,000. A bill and payment for 

a delivered paid order had not been recorded. This 

error is material and requires restatement of the 

proprietary financial statements. A budgetary entry 

also is required to reflect a beginning balance 

adjustment. The PYA attribute domain value “B” is 

used because FBWT is > $500,000. A backdated 

Treasury central accounting document is prepared 

after the FACTS II revision period has closed for the 

period being corrected. 

SYSTEM ONLY ENTRIES

Budgetary 

4450B Unapportioned Authority

 4450X Unapportioned Authority

4610 Allotments - Realized Resources 

 4902B Delivered Orders – Obligations, Paid

 

Proprietary (prior-year activity)

7400 Prior-Period Adjustments Due to Corrections of Errors 

 1010B Fund Balance With Treasury

3108 Unexpended Appropriations - Prior-Period 

Adjustments Due to Corrections of Errors 

 5708 Expended Appropriations - Prior-Period 

Adjustments Due to Corrections of Errors

WORK PAPER ONLY ENTRIES

Proprietary

6100 Operating Expenses/Program Costs

 7400 Prior-Period Adjustments Due to Corrections of Errors

5708 Expended Appropriations – Prior-Period Adjustments 

 Due to Corrections of Errors

 5700 Expended Appropriations

3107 Unexpended Appropriations - Used

 3108 Unexpended Appropriations – Prior-Period 

 Adjustments Due to Corrections of Errors

7,000

7,000

7,000

7,000

7,000

7,000

7,000

7,000

7,000

7,000

7,000

7,000

7,000

7,000

Footnote 4

B102 

substitute 

D306 for 

proprietary

D306

D304

 4 TCs between the same USSGL accounts and differentiated by only attributes are not displayed in the USSGL TFM Section III.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 10 of 32

January 25, 2009

Financial Event Accounting Transaction Debit

(in thousands)

Credit

(in thousands)

Trans 

Code

3. During fiscal 2009, an error that occurred in fiscal 

2008 was discovered. It understated expenses and 

overstated cash by $450,000. A bill and payment for a 

delivered paid order had not been recorded. This 

error is material and requires restatement of the 

proprietary financial statements. The PYA attribute 

domain value “X” is used because FBWT is < 

$500,000. A backdated Treasury central accounting 

document is not prepared after the FACTS II revision 

period has closed for the period being corrected.

SYSTEM ONLY ENTRIES

Budgetary 

4610 Allotments - Realized Resources 

 4902X Delivered Orders – Obligations, Paid 

Proprietary (prior-year activity)

7400 Prior-Period Adjustments Due to Corrections of Errors 

 1010X Fund Balance With Treasury

3108 Unexpended Appropriations - Prior-Period 

Adjustments Due to Corrections of Errors 

 5708 Expended Appropriations - Prior-Period 

Adjustments Due to Corrections of Errors

WORK PAPER ONLY ENTRIES

Proprietary

6100 Operating Expenses/Program Costs

 7400 Prior-Period Adjustments Due to Corrections of Errors

5708 Expended Appropriations – Prior-Period Adjustments 

 Due to Corrections of Errors

 5700 Expended Appropriations

3107 Unexpended Appropriations - Used

 3108 Unexpended Appropriations – Prior-Period 

 Adjustments Due to Corrections of Errors

450

450

450

 

450

450

450

450

450

450

450

450

450

B102 

substitute 

D306 for 

proprietary

D306

D304

4. During fiscal 2009, an error that occurred in fiscal 

2008 was discovered. It understated expenses by 

$100,000. A bill for a delivered unpaid order had not 

been recorded. No prior related obligation had been 

previously recorded. This error is immaterial and 

does not require restatement of the proprietary 

financial statements. A budgetary entry is required to 

reflect a beginning balance adjustment. The PYA

attribute domain value “P” is used because FBWT is 

not affected. A backdated Treasury central accounting 

document is not prepared after the FACTS II revision 

period has closed for the period being corrected.

Budgetary 

4450P Unapportioned Authority

 4450X Unapportioned Authority

4610 Allotments – Realized Resources 

 4901P Delivered Orders – Obligations, Unpaid

Proprietary (current-year activity)

6100 Operating Expenses/Program Costs

 2110 Accounts Payable 

3107 Unexpended Appropriations – Used 

 5700 Expended Appropriations

100

100

100

100

100

100

100

100

Footnote 5

B402 without 

previously 

recording 

4801

B134

 5 TCs between the same USSGL accounts and differentiated by only attributes are not displayed in the USSGL TFM Section III.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 11 of 32

January 25, 2009

Financial Event Accounting Transaction Debit

(in thousands)

Credit

(in thousands)

Trans 

Code

5. During fiscal 2009, an error that occurred in fiscal 

2008 was discovered. It understated expenses and 

overstated cash by $500,000. A bill and payment for a 

delivered paid order had not been recorded. No prior 

related obligation had been previously recorded. This 

error is immaterial and does not require restatement

of the proprietary financial statements. A budgetary 

entry is required to reflect a beginning balance 

adjustment. The PYA attribute domain value “B” is 

used because FBWT is > $500,000. A backdated 

Treasury central accounting document is prepared

after the FACTS II revision period has closed for the 

period being corrected.

Budgetary 

4450B Unapportioned Authority

 4450X Unapportioned Authority

4610 Allotments – Realized Resources 

 4902B Delivered Orders – Obligations, Paid 

Proprietary (current-year activity)

6100 Operating Expenses/Program Costs 

 1010B Fund Balance With Treasury 

3107 Unexpended Appropriations – Used 

 5700 Expended Appropriations 

500

500

500

500

500

500

500

500

Footnote 6

B102

B134

6. During fiscal 2009, an error that occurred in fiscal 

2008 was discovered. It understated expenses and 

overstated cash by $50,000. A bill for a delivered paid 

order had not been recorded. No prior related 

obligation had been previously recorded. This error 

is immaterial and does not require restatement of the 

proprietary financial statements. The PYA attribute 

domain value “X” is used even though FBWT is 

affected; the amount is under $500,000. A backdated 

Treasury central accounting document is not prepared

after the FACTS II revision period has closed for the 

period being corrected.

Budgetary 

4610 Allotments - Realized Resources 

 4902X Delivered Orders –Obligations, Paid 

Proprietary (current-year activity)

6100 Operating Expenses/Program Costs 

 1010X Fund Balance With Treasury 

3107 Unexpended Appropriations – Used 

 5700 Expended Appropriations

 

50

50

50

50

50

50

B102

B134

 6 TCs between the same USSGL accounts and differentiated by only attributes are not displayed in the USSGL TFM Section III.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 12 of 32

January 25, 2009

Fiscal 2009 Accounting System Activity Summary 

(Assumes agency’s accounting system was not reopened 

to record PPAs or PYAs.)

USSGL 

Budgetary 

and 

Proprietary 

Accounts

Column 1

System

PostClosing 

Trial 

Balance 

Fiscal 2008

Column 2

(in thousands)

System

Activity

Fiscal 2009

(transactions 

1,2,3,4,5,6)

Column 3

(in thousands)

System

Pre-Closing 

Trial Balance 

Fiscal 2009

(calc. 

Col. 2 + 3)

Column 4

(in thousands

System

Closing 

Entries

Fiscal 2009

Column 5

(in thousands

System

Post-Closing

Trial 

Balance 

Fiscal 2009

(calc. 

Col. 4 + 5)

Column 6

(in thousands)

4201 12,000 12,000 (8,000) 4,000

4450B 7,500 7,500 (7,500) 0

4450P 2,100 2,100 (2,100) 0

4450X (11,000) 500 (10,500) 9,600 (900)

4610 0 0 0 0 0

4901P (2,100) (2,100) 2,100 0

4901X (1,000) (1,000) (2,100) (3,100)

4902B (7,500) (7,500) 7,500 0

4902X (500) (500) 500 0

Totals 0 0 0 0 0

1010X 12,000 (500) 11,500 (7,500) 4,000

1010B (7,500) (7,500) 7,500 0

2110 (1,000) (2,100) (3,100) (3,100)

3100 (11,000) (11,000) 10,100 (900)

3107 650 650 (650) 0

3108 9,450 9,450 (9,450) 0

3310 0 0 0 0

5700 (650) (650) 650 0

5708 (9,450) (9,450) 9,450 0

6100 650 650 (650) 0

7400 9,450 9,450 (9,450) 0

Totals 0 0 0 0 0

Accounts highlighted above in yellow are closed at yearend.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 13 of 32

January 25, 2009

Work Paper Trial Balance for Budgetary Accounts – SBR ONLY7

Budgetary 

Accounts

Column 1

PriorYear

Adjustment

Attribute

(N/A for the 

SBR)

Column 2

Fiscal 

2008

Published

Pre-Close

Column 3

(in thousands)

Fiscal 2009

Prior-Period

Adjustments

(transactions 

1, 2, and 3 )

Column 4

(in thousands)

Restated 

Pre-Close

for Fiscal 2008 

SBR

(Calc. Col. 3+4)

Column 5

(in thousands)

Restated 

Fiscal 

2008 

SBR

Closing 

Entries

Column 6

(in thousands

Restated 

Post-Close

Fiscal 2008

SBR

(Calc. Col. 5+6)

Column 7

(in thousands)

Fiscal 2009

Current-Year 

Activity for 

SBR

(transactions 

4, 5, and 6 )

Column 8

(in thousands)

Fiscal 2009

SBR for

Publication

(Calc. Col. 7+8)

Column 9

(in thousands)

4119 N/A 12,000 12,000 (12,000) 0 0

4201 N/A 0 4,550 4,550 4,550

4450 N/A (11,000) 9,450 (1,550) (1,550) 650 (900)

4901 N/A (1,000) (2,000) (3,000) (3,000) (100) (3,100)

4902 N/A (7,450) (7,450) 7,450 0 (550) (550)

Total 0 0 0 0 0 0 0

Accounts highlighted above in yellow are closed at yearend.

 7 Considers FASAB Standard No. 21 requirements regarding PPAs but does not consider OMB Circular No. A-11 requirements regarding PYAs.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 14 of 32

January 25, 2009

Financial System Activity and Trial Balance for Budgetary Accounts (used to prepare SF 133, USSGL 2108: Yearend 

Closing Statement, and the Budget Program and Financing (P&F) Schedule) 8

Budgetary 

Accounts

Column 1

Prior-Year

Adjustment

Attribute

Column 2

Fiscal 

2008

Trial Bal.

(used to 

prepare 

SF 133)

Column 3

(in thousands)

Fiscal 

2008

Closing 

Entries

Activity

Column 4

(in thousands)

Fiscal 2008

PostClosing 

Trial 

Balance

(Calc. Col. 

3+4)

Column 5

(in thousands)

Fiscal 2009

Apportionment 

and Allotment 

Transaction “A”

Column 6

(in thousands)

Fiscal 2009

Prior-Year

Adjustments

Activity

(transactions 

1, 2, 4, and 5 

with “B” and 

“P” domains)

Column 7

(in thousands)

Fiscal 2009

Current Year 

Activity

(transactions 3 and 

6 with X domain)

Column 8

(in thousands)

Fiscal 2009 Trial 

Bal.

(used to prepare 

SF 133)

(Calc. Col. 6+7+8)

Column 9

(in thousands)

4119 X 12,000 (12,000) 0 0 0

4201 12,000 12,000 0 12,000

4450 B 0 7,500 7,500

4450 P 0 2,100 2,100

4450 X (11,000) (11,000) 10,100 (9,600) (10,500)

4610 0 (10,100) 9,600 500 0

4901 P 0 (2,100) (2,100)

4901 X (1,000) (1,000) (1,000)

4902 B 0 (7,500) (7,500)

4902 X 0 (500) (500)

Total 0 0 0 0 0 0

Accounts highlighted above in yellow are closed at yearend.

 8 Includes OMB Circular No. A-11 requirements regarding PYAs. This chart is not used for the SBR.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 15 of 32

January 25, 2009

Work Paper Trial Balance for Proprietary Accounts – Restated Fiscal 2009 Comparative Financials

Proprietary

Accounts

Column 1

Fiscal 2008

Published

Comparative 

Financials

(Pre-Close)

Column 2

(in thousands)

Fiscal 2009

Prior-Period

Adjustments

(transactions 1, 2, 

and 3 as posted in 

agency accounting 

system)

Column 3

(in thousands)

Fiscal 2009 

Prior-Period

Work-Paper

Adjustments

(for 

transactions 1, 

2, and 3 not 

recorded in 

agency 

accounting 

system)

Column 4

(in thousands)

Fiscal 2008

Restated

Pre-Close

for Fiscal 2009 

Comparative 

Financials

(calc. col. 2+3+4)

Column 5

(in thousands)

Fiscal 20 08 

Work-Paper 

Closing 

Entries for 

Restated

Fiscal 2009 

Comparative

Financials

Column 6

(in thousands)

Fiscal 2008

Restated

Post-Close = 

Fiscal 2009 

Beginning 

Balances for 

Fiscal 2009 

Comparative 

Financials

(calc. col. 5+6)

Column 7

(in thousands)

Fiscal 2009 

Current Year 

Activity

(excludes priorperiod

adjustments to 

fiscal 2008 in 

column 3)

(transactions 4, 

5, and 6)

Column 8

(in thousands)

Fiscal 2009 

Pre-Close after 

Fiscal 2008 

Restatement for 

Fiscal 2009 

Comparative 

Financials

(calc. col. 7+8)

Column 9

(in thousands)

1010 12,000 (7,450) 4,550 4,550 (550) 4,000

2110 (1,000) (2,000) (3,000) (3,000) (100) (3,100)

3100 0 0 (1,550) (1,550) 0 (1,550)

3101 (12,000) (12,000) 12,000 0 0 0

3107 1,000 9,450 10,450 (10,450) 0 650 650

3108 0 9,450 (9,450) 0 0 0 0

3310 0 0 0 0 0

5700 (1,000) (9,450) (10,450) 10,450 0 (650) (650)

5708 0 (9,450) 9,450 0 0 0 0

6100 1,000 9,450 10,450 (10,450) 0 650 650

7400 0 9,450 (9,450) 0 0 0 0

Total 0 0 0 0 0 0 0 0

Accounts highlighted above in yellow are closed at yearend.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 16 of 32

January 25, 2009

Fiscal 2008 Pre-Closing Trial Balance Comparisons

BUDGETARY

Fiscal 2008 Pre-Closing Ending 

Trial Balance

Fiscal 2008 System

(SF 133)

Fiscal 2008 Work Paper SBR

(for Restated Fiscal 2008 SBR

in Fiscal 2009 Comparative 

Financials)

(from page 13, col. 5)

USSGL Account Debit

(in thousands)

Credit

(in thousands)

Debit

(in thousands)

Credit

(in thousands)

4119X Other Appropriations Realized 12,000 12,000

4201 Total Actual Resources – Collected

4450B Unapportioned Authority

4450P Unapportioned Authority

4450X Unapportioned Authority 11,000 1,550

4901P Delivered Orders – Obligations, Unpaid

4901X Delivered Orders – Obligations, Unpaid 1,000 3,000

4902B Delivered Orders – Obligations, Paid

4902X Delivered Orders – Obligations, Paid 7,450

Total 12,000 12,000 12,000 12,000

PROPRIETARY

Fiscal 2008 Pre-Closing Ending

Trial Balance

Fiscal 2008 System

Published in Fiscal 2008 

Comparative Financials

Fiscal 2008 Work Paper

(for Restated Fiscal 2008 in 

Fiscal 2009 Comparative 

Financials)

(from page 15, col. 5)

USSGL Account Debit

(in thousands)

Credit

(in thousands)

Debit

(in thousands)

Credit

(in thousands)

1010 Fund Balance With Treasury 12,000 4,550

2110 Accounts Payable 1,000 3,000

3101 Unexpended Appropriations –

Appropriations Received 12,000 12,000

3107 Unexpended Appropriations – Used 1,000 10,450

3108 Unexpended Appropriations – Prior-Period

Adjustments Due to Corrections of Errors

5700 Expended Appropriations 1,000 10,450

5708 Expended Appropriations – Prior-Period

Adjustments Due to Corrections of Errors

6100 Operating Expenses/Program Costs 1,000 10,450

Total 14,000 14,000 25,450 25,450

Differences between SF 133 and SBR 

explained:

PPAs are required for material corrections 

of errors, and fiscal 2008 statements are 

restated. For details about the material 

corrections, see transactions 1, 2, and 3 

and column 4 of the Work Paper Trial 

Balance for Budgetary Accounts – SBR Only. 

OMB Circular No. A-11 does not permit 

restatement of the SF 133. OMB Circular 

No. A-136 requires restatement of the SBR

for material corrections.

Differences between fiscal 2008 Published 

and Fiscal 2008 Work Paper for Fiscal 

2008 Restated explained:

PPAs are required for material corrections 

of errors, and fiscal 08 is restated for 

presentation in fiscal 2009 Comparative 

Financials. For details about the material 

corrections, see transactions 1, 2, and 3 

and column 4 of the Work Paper Trial 

Balance for Proprietary Accounts – Restated 

FY 08 Financials. See fiscal 2009 trial 

balances for impact of PPAs on the system. 
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 17 of 32

January 25, 2009

Fiscal 2009 Pre-Closing Trial Balance Comparisons

BUDGETARY

Fiscal 2009 Pre-Closing Ending

Trial Balance

Fiscal 2009 System

(SF 133)

Fiscal 2009 Work Paper SBR

(after Fiscal 2008 Restated 

SBR in Fiscal 2009 

Comparative Financials)

(from page 13, col. 9)

USSGL Account Debit

(in thousands)

Credit

(in thousands)

Debit

(in thousands)

Credit

(in thousands)

4201 Total Actual Resources – Collected 12,000 4,550

4450 Unapportioned Authority 900

4450B Unapportioned Authority 7,500

4450P Unapportioned Authority 2,100

4450X Unapportioned Authority 10,500

4901 Delivered Orders – Obligations, Unpaid 3100

4901P Delivered Orders – Obligations, Unpaid 2,100

4901X Delivered Orders – Obligations, Unpaid 1,000

4902 Delivered Orders – Obligations, Paid 550

4902B Delivered Orders – Obligations, Paid 7,500

4902X Delivered Orders – Obligations, Paid 500

Total 21,600 21,600 4,550 4,550

PROPRIETARY

Fiscal 2009 Pre-Closing Ending

Trial Balance

Fiscal 2009 System

Fiscal 2009 Work Paper 

(after Fiscal 2008 Restated in 

Fiscal 2009 Comparative 

Financials)

(from page 15, col. 9)

USSGL Account Debit

(in thousands)

Credit

(in thousands)

Debit

(in thousands)

Credit

(in thousands)

1010 Fund Balance With Treasury 4,000 4,000

2110 Accounts Payable 3,100 3,100

3100 Unexpended Appropriations – Cumulative 11,000 1,550

3107 Unexpended Appropriations – Used 650 650

3108 Unexpended Appropriations – Prior-Period 

Adjustments Due to Corrections of Errors 9,450

5700 Expended Appropriations 650 650

5708 Expended Appropriations – Prior-Period 

Adjustments Due to Corrections of Errors 9,450

6100 Operating Expenses/Program Costs 650 650

7400 Prior-Period Adjustments Due to 

Corrections of Errors

9,450

Total 24,200 24,200 5,300 5,300

Differences between SF 133 and SBR 

explained:

The fiscal 2008 SBR was restated to reflect 

material PPAs, however, the fiscal 2008 SF 

133 was not. Also, there are different rules 

for determining what events/transactions 

qualify as PPAs to financial statements and 

those that qualify as PPAs to the SF 133. 

The SF 133 is prepared directly from 

system entries, while the SBR is adjusted 

on the Work Paper. 

Differences between fiscal 2009 system and 

fiscal 2009 Work Paper adjustments 

explained:

Agency accounting systems are assumed to 

not be reopened in order to post PPAs to 

the actual system records. Restatements are 

assumed to be prepared through Work 

Papers. 
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 18 of 32

January 25, 2009

Closing Entries for Fiscal 2009

Financial Event Accounting Transaction Debit

(in thousands)

Credit

(in thousands)

Trans 

Code

C-1 Close prior-year adjustment attribute 

domain values “P” and “B” to “ X.”

SYSTEM ONLY ENTRIES

Budgetary

4450X Unapportioned Authority

 4450B Unapportioned Authority

 4450P Unapportioned Authority

4901P Delivered Orders – Obligations, Unpaid

 4901X Delivered Orders – Obligations, Unpaid

4902B Delivered Orders – Obligations, Paid

 4902X Delivered Orders – Obligations, Paid

Proprietary

1010B Fund Balance With Treasury

 1010X Fund Balance With Treasury

WORK PAPER ONLY ENTRIES

Budgetary

No Entry

Proprietary

1010B Fund Balance With Treasury

 1010X Fund Balance With Treasury

9.600

2,100

7,500

7,500

500

7,500

2,100

2,100

7,500

7,500

500

Footnote 9

 9 TCs between the same USSGL accounts and differentiated by only attributes are not displayed in the USSGL TFM Section III.
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 19 of 32

January 25, 2009

Financial Event Accounting Transaction Debit

(in thousands)

Credit

(in thousands)

Trans 

Code

C-2 Close revenues, expenses, and other 

financing sources to cumulative results of 

operations.

SYSTEM ONLY ENTRIES

Budgetary

No Entry

Proprietary

5700 Expended Appropriations

5708 Expended Appropriations – Prior-Period Adjustments Due

 to Corrections of Errors

 3310 Cumulative Results of Operations

 6100 Operating Expenses/Program Costs 

3310 Cumulative Results of Operations

 7400 Prior-Period Adjustments Due to Corrections of Errors

WORK PAPER ONLY ENTRIES

Budgetary

No Entry

Proprietary

5700 Expended Appropriations

3310 Cumulative Results of Operations

 3310 Cumulative Results of Operations

 6100 Operating Expenses/Program Costs 

650

9,450

9,450

650

650

9,450

650

9,450

650

650

F336

F340
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 20 of 32

January 25, 2009

Financial Event Accounting Transaction Debit

(in thousands)

Credit

(in thousands)

Trans 

Code

C-3 Close unexpended appropriations –

prior-period adjustment account and 

unexpended appropriations used account to 

unexpended appropriations-cumulative.

SYSTEM ONLY ENTRIES

Budgetary

No Entry

Proprietary

3100 Unexpended Appropriations – Cumulative 

 3107 Unexpended Appropriations – Used

 3108 Unexpended Appropriations – Prior-Period Adjustments

 Due to Corrections of Errors

WORK PAPER ONLY ENTRIES

Budgetary

No Entry

Proprietary

3100 Unexpended Appropriations – Cumulative 

 3107 Unexpended Appropriations – Used

 

10,100

650

650

9,450

650

F342

C-4 Close budgetary obligations paid account SYSTEM ONLY ENTRIES

Budgetary

4902X Delivered Orders – Obligations, Paid

 4201 Total Actual Resources – Collected

Proprietary

No Entry

WORK PAPER ONLY ENTRIES

Budgetary

4902X Delivered Orders – Obligations, Paid

 4201 Total Actual Resources Collected

Proprietary

No Entry

8,000

500

8,000

500

F314
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 21 of 32

January 25, 2009

Post-Closing Trial Balances – Fiscal 2009

Note: The Post-Closing Trial Balance (Work Paper) – Fiscal 2009 equals the Post-Closing Trial Balance (System) – Fiscal 2009. 

Post-Closing Trial Balance (Work Paper) – Fiscal 2009

USSGL Account Debit

(in thousands)

Credit

(in thousands)

Budgetary

4201 Total Actual Resources – Collected 4,000 0

4450 Unapportioned Authority 0 900

4901X Delivered Orders – Obligations, Unpaid 0 3,100

Total 4,000 4,000

Proprietary

1010X Fund Balance With Treasury 4,000 0

2110 Accounts Payable 0 3,100

3100 Unexpended Appropriations – Cumulative 0 900

Total 4,000 4,000

Post-Closing Trial Balance (Accounting System) – Fiscal 2009

USSGL Account Debit

(in thousands)

Credit

(in thousands)

Budgetary

4201 Total Actual Resources – Collected 4,000 0

4450 Unapportioned Authority 0 900

4901X Delivered Orders – Obligations, Unpaid 0 3,100

Total 4,000 4,000

Proprietary

1010X Fund Balance With Treasury 4,000 0

2110 Accounts Payable 0 3,100

3100 Unexpended Appropriations – Cumulative 0 900

Total 4,000 4,000
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 22 of 32

January 25, 2009

Fiscal 2009 SF 133: STATEMENT OF BUDGETARY EXECUTION AND BUDGETARY RESOURCES

This SF 133 is not the same as the Statement of Budgetary Resources (SBR) because of the impact of the different budgetary

and accounting regulations noted throughout this scenario. Remember, SF 133s are never restated, while SBRs may be restated.

Budgetary Resources Beg. Bal. - page 14, col. 3 

End. Bal. - page 14, col. 9.

(in thousands)

1. Unobligated Balance:

 A. Brought forward, October 1 (+ or -) 4201 Begin + 4901 Begin PYA “X” .... 12,000 + (1,000) 11,000

 B. Adjustment to unobligated balance brought forward, October 1 (+ or -) 

 4901 End PYA “P,” 4902 End PYA “B” ....(2,100) + (7,500) (9,600)

7. Total Budgetary Resources 1,400

Status of Budgetary Resources

8. Obligations incurred:

A. Direct:

 1. Category A 4902 End PYA “X,” 4901 End PYA “X” - 4901 Begin PYA “X”.... 500 +1,000 - 1,000 500

 C. Subtotal 500

10. Unobligated balance not available:

 C. Other 4450 End PYA “B,” “P,” and “X” (7,500) + (2,100) + 10,500 900

11. Total Status of Budgetary Resources 1,400

Change in Obligated Balances

12. Obligated balance, net:

 A. Unpaid obligations, start of year:

 1. Unpaid obligations, brought forward, October 1 (+) 4901 Begin PYA “X” 1,000 1,000

 2. Adjustment to unpaid obligations, brought forward (+) 4901 End PYA “P” 2,100 2,100

 C. Total, unpaid obligated balance, brought forward, net (+12A-12B) 3,100

13. Obligations incurred (+) 4901 End PYA “X” - 4901 Begin PYA “X” + 4902 End PYA “X” 1,000 – 1,000 + 500 500

14. Gross Outlays (-) 4902 End PYA “X” 500 (500)

18. Obligated balance, net, end of period:

 A. Unpaid obligations (+) {4901 End PYA “P” and “X” ... 2,100 + 1,000 3,100

 C. Total, unpaid obligated balance, net end of period (+18A-18B) 3,100

Net Outlays

19. Net outlays:

 A. Gross outlays (+) 4902 End PYA “X” 500
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 23 of 32

January 25, 2009

USSGL 2108: YEAREND CLOSING STATEMENT (XX09)

(in thousands)

Column 2. Preclosing Unexpended Balance 4,000

Column 5. Postclosing Unexpended Balance (1010E, PYA “B”/ “X” attributes) 4,000

Column 6. Other Authorizations 

Column 7. Reimbursements Earned and Refunds 

Column 8. Unfilled Customer Orders

Column 9. Undelivered Orders and Contracts 

Column 10. Accounts Payable and Other Liabilities (4901E, PYA “B”/“P”/“X” attributes) 3,100

Column 11. Unobligated Balance (4450E, PYA “B”/“P”/“X” attributes) 900

(Columns 5+6+7+8 = 9+10+11) (Column 2=5) Yes, Yes
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 24 of 32

January 25, 2009

COMPARATIVE STATEMENT OF BUDGETARY RESOURCES

Budgetary Resources

Fiscal 2008

Restated

(in thousands)

Beg. Bals.: All zero

End. Bals: Page 13, Col. 5

Fiscal 2009

Col. 9 Ending

(in thousands)

Beg. Bals.: Page 13, Col. 7

End. Bals.: Page, 13, Col. 9

1. Unobligated Balance, brought forward, October 1 (+ or -)

Fiscal 2008 Restated: 4201B,X = 0

Fiscal 2009: 4201B,X + 4901B,X = 4,550 + (3,000) = 1,550

Alternative explanation using transactions:

Fiscal 2009 Add: Fiscal 2008 Published 4201 (post-closing of 4119) + 4901 = 12,000 – 1,000 11,000

 Less: Fiscal 2009 Material PPA (trans 1,2,3)

 4901( 2,000) + 4902 (7,000) + 4902( 450) 9,450 

 Equals: Restated Fiscal 2008 ending/Fiscal 2009 beginning 1,550

0

1,550

3. Budget Authority

 A. Appropriation 4119 E,X 12,000

7. Total Budgetary Resources 12,000 1,550

Status of Budgetary Resources

8. Obligations incurred: 

Fiscal 2008 Restated: 4901E,X - 4901B,X + 4902E,X = (3,000-0) + 7,450 = 10,450

Fiscal 2009: 4901E,X – 4901B,X + 4902E, X = (3,100-3,000) + 550 = 650

Alternative explanation using transactions:

Fiscal 2008 Restated:

Add: Fiscal 2008 Published 4901 1,000

Add: Fiscal 2009 Material Prior-Period Adjustments (Col. 4 trans 1,2,3): 

 4901( 2,000) + 4902(7,000) + 4902(450) 9,450 

 Equals: Restated Fiscal 2008 ending and Fiscal 2009 beginning 10,450

Fiscal 2009: Not Material Trans (Col. 8 trans. 4,5,6)

Add: 4901(100) + 4902(500) + 4902(50) 650

10,450

650

9. Unobligated balance:

 A. Apportioned:

 1. Balance, currently available 
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 25 of 32

January 25, 2009

Fiscal 2008

Restated

Fiscal 2009

10. Unobligated balance not available:

 C. Other

Fiscal 2008 Restated: 4450 E = 1,550

Fiscal 2009: 4450 E = 900

Alternative explanation using transactions:

Fiscal 2008 Restated:

 Add: Fiscal 2008 Published Pre-Close 4450E (Col. 3) 11,000

 Less: Fiscal 2009 Material Prior-Period Adjustments (Col. 4, trans 1,2,3): 

 4901(2,000) + 4902(7,000) + 4902(450) - 9,450 

 Equals: Restated Fiscal 2008 ending and Fiscal 2009 beginning (Col. 5) 1,550

Fiscal 2009:

 Add: Restated Fiscal 2008 ending=Fiscal 2009 beginning 1,550

 Less: Fiscal 2009 Not Material Trans (Col. 8, trans 4,5,6) 

 4901(100) + 4902 (500) + 4902 (50) - 650

 Equals: Fiscal 2009 Ending 900

1,550

900

11. Total Status of Budgetary Resources 12,000 1,550

12. Obligated balance, net:

 A. Unpaid obligations, start of year:

 1. Unpaid obligations, brought forward, October 1 (+) 

Fiscal 2008 Restated Beginning Balance: 4901 B,X = 0

Fiscal 2009: Beginning Balance: 4901 B,X = 3,000

Alternative explanation using transactions:

Fiscal 2009 Beginning Balance:

Add: Fiscal 2008 Published 1,000

Add: Fiscal 2009 Material Prior-Period Adjustment (trans 1) 2,000

Equals: Restated Fiscal 2009 beginning 3,000

0

3,000
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 26 of 32

January 25, 2009

Fiscal 2008

Restated

Fiscal 2009

18. Obligated balance, net, end of period:

 A. Unpaid obligations (+) 

Fiscal 2008 Restated: 4901E = 3,000

Fiscal 2009: 4901E = 3,100

Alternative explanation using transactions:

Fiscal 2008 Restated Ending Balance:

Add: Fiscal 2008 Published Close 4901 1,000

Add: Fiscal 2009 Material Prior-Period Adjustment (trans 1) 2,000

Equals: Restated Fiscal 2008 ending 3,000

Fiscal 2009 Ending Balance:

Add: Fiscal 2008 Restated 4901 3,000

Add: Fiscal 2009 Not Material Trans (trans 4) 100

Equals: Fiscal 2009 Ending 3,100

3,000

3,100

 C. Total, unpaid obligated balance, net end of period (+18A-18B) 3,000 3,100

Net Outlays

19. Net outlays:

 A. Gross outlays (+) (4902E) 

Fiscal 2008 Restated: 4902E,X = 7,450

Fiscal 2009: 4902E,X = 550

Alternative explanation using transactions:

Fiscal 2008 Restated Ending Balance:

Add: Fiscal 2008 Published Close 4902 0

Add: Fiscal 2009 Material Prior-Period Adjustment (trans 2,3) 7,450

Equals: Restated Fiscal 2008 ending 7,450

Fiscal 2009 Ending Balance:

Add: Fiscal 2009 Not material trans (trans 5,6) 550

Equals: Fiscal 2009 Ending 550

7,450

550

 C. Less: Distributed offsetting receipts 0 0

 D. Net outlays (+19A-19B-19C) 7,450 550
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 27 of 32

January 25, 2009

BUDGET PROGRAM AND FINANCING (P&F) SCHEDULE (Fiscal 2009)

 Beg. Bal. from page 14, col. 9

 End Bal. from page 14, col. 3

(in thousands)

Obligations by Program Activity

1000 Total New Obligations (+) {4901E(PYA “X” attribute) – (4901B(PYA “X”

 attribute)} + 4902E(PYA “X” attribute)} ....(1,000) – (1,000) + (500)

500

Budgetary Resources Available for Obligation

2140 Unobligated balance carried forward, start of year {4201B – 4901B(PYA “X”

 attribute)}

11,000

2145 Adjustment to unobligated balance carried forward, start of year {4901E(PYA

 “P” attribute) + 4902E (PYA “B” attribute)} (9,600)

2200 New budget authority (gross) (sum of lines 4000 through 6962) 0

2390 Total budgetary resources available for obligation (sum of lines 2140 through

 2342)

1,400

2395 Total new obligations (same as line 1000, opposite sign) (500)

2440 Unobligated balance carried forward, end of year (4450E) 900

Change in Obligated Balances

7240 Obligated balance, start of year {4901B(PYA “X” attribute)} 1,000

7245 Adjustment to obligated balance carried forward, start of year {4901E (PYA

 “P” attribute)} 2,100

7310 Total new obligations (same as line 1000) 500

7320 Total outlays, gross {4902E(PYA “X” attribute)} 500

7440 Obligated balance, end of year {4901E(PYA “P” & “X” attributes)} 3,100

Outlays (Gross), Detail

8690 Outlays from new discretionary authority {4902E(PYA “X” attribute)} 500

8700 Total outlays (gross) (sum of lines 8690 through 8698) 500

Net Budget Authority and Outlays

8900 Budget authority (net) {line 2200 - (sum of lines 8800 through 8845,8895, and

 8896)}

0

9000 Outlays (net) (sum of lines 8690 through 8698) – (sum of lines 8800 through 

 8845)

500

Memorandum (Non-Add) Entries

9502 Unpaid obligations, end of year {4901E(PYA “X” attribute)} 3,100
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 28 of 32

January 25, 2009

BALANCE SHEET

 Ending Bal. from page 15 

Fiscal 2009

(col. 9)

(in thousands)

Fiscal 2008

(Restated

Pre-Close)

(col. 5)

(in thousands)

Fiscal 2008

(Published)

(col. 2)

Not Part of 

Comparative 

Statements

(in thousands)

Assets:

 Intragovernmental:

 1. Fund Balance With Treasury (1010E) 4,000 4,550 12,000

 6. Total Intragovernmental (calc.) 4,000 4,550 12,000

15. Total Assets (calc.) 4,000 4,550 12,000

Liabilities:

 Intragovernmental:

 17. Accounts Payable (2110E) 3,100 3,000 1,000

 20. Total Intragovernmental (calc.) 3,100 3,000 1,000

 28. Total Liabilities (calc.) 3,100 3,000 1,000

Net Position:

 31. Unexpended Appropriations – Other Funds

 (3100B, 3101E, 3107E)

Published Fiscal 2008: (0 + (12,000) + 1,000)

Restated Fiscal 2008: (0 + (12,000) + 10,450)

Current-Year Fiscal 2009: ((1,550) + 0 + 6,500) (col. 9 – col. 7)

900 1,550 11,000

 33. Cumulative Results of Operations (5700E, 6100E) 

Published Fiscal 2008: ((1,000) + 1,000)

Restated Fiscal 2008: ( (10,450 + 10,450) 

Current-Year Fiscal 2009: ((650) + 650 )

 0 0 0 

 34. Total Net Position (calc.) 900 1,550 11,000

35. Total Liabilities and Net Position (calc.) 4,000 4,550 12,000
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 29 of 32

January 25, 2009

STATEMENT OF NET COST

 Ending Bal. from page 15

Fiscal 

2009

Col. 9

(in thousands)

Fiscal 2008

(Restated

Pre-Close

Published in 

Fiscal 2009 

Comparative)

Col. 5

(in thousands)

Fiscal 2008

(Published)

Col. 2

(in thousands)

Program Costs:

 Program A:

 1. Gross Costs (6100E) 650 10,450 1,000

 3. Net Program Costs 650 10,450 1,000

 6. Net Cost of Operations 650 10,450 1,000
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 30 of 32

January 25, 2009

STATEMENT OF CHANGES IN NET POSITION

 Ending Bal. from page 15

All Other 

Funds

Fiscal 2009

(col. 9)

(in thousands)

All Other 

Funds

Fiscal 2008 

(Restated)

(col. 5)

(in thousands)

Cumulative Results of Operations:

1. Beginning Balances (3310B) 0 0

2. Adjustments:

 2B. Corrections of Errors (5708E, 7400E) (not used because comparative 

statement for the year being corrected is presented – see work paper adjustments.)

0 0

3. Beginning Balance, As Adjusted 0 0

Budgetary Financing Sources:

5. Appropriations Used (5700E) 650 10,450

14. Total Financing Sources (calc. line 4 through 13) 650 10,450

15. Net Cost of Operations (calc. from Statement of Net Cost) 650 10,450 

16. Net Change 0 0

17. Cumulative Results of Operations 0 0

Unexpended Appropriations:

18. Beginning Balance (3100Beg.) 1,550 0

19. Adjustments:

 19B. Correction of Errors (3108E) (not used because comparative statement 

for the year being corrected is presented – see work paper adjustments.)

20. Beginning Balance, As Adjusted 1,550 0

Budgetary Financing Sources:

 21. Unexpended Appropriations – Appropriations Received (3101E) 0 12,000

 24. Appropriations Used (3107E) (650) (10,450)

 25. Total Budgetary Financing Sources (650) 1,550

26. Total Unexpended Appropriations 900 1,550

27. Net Position 900 1,550
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 31 of 32

January 25, 2009

RECLASSIFIED BALANCE SHEET AS OF SEPTEMBER 30, 2009, AND 2008

Fiscal 2008

(in thousands)

Fiscal 2009

(in thousands)

1. Assets:

3. Federal

 3.1 Fund Balance With Treasury 4,550 4,000

 3.10 Total Federal Assets 4,550 4,000

4. Total Assets 4,550 4,000

5. Liabilities:

6. Non-Federal

 6.1 Accounts Payable 3,000 3,100

 6.9 Total Non-Federal Liabilities 3,000 3,100

8. Total Liabilities 3,000 3,100

9. Net Position:

 9.1 Net Position Non-Earmarked Funds 1,550 900

10. Total Net Position 1,550 900

11. Total Liabilities and Net Position 4,550 4,000

RECLASSIFIED STATEMENT OF NET COST

FOR THE YEARS ENDED SEPTEMBER 30, 2009, AND 2008

Fiscal 2009

(in thousands)

Fiscal 2008

(in thousands)

1. Gross Cost:

2. Non-Federal Gross Cost 650 10,450

4. Total Non-Federal Gross Cost 650 10,450

7. Department Total Gross Cost 650 10,450

8. Earned Revenue:

12. Department Total Earned Revenue 0 0

13. Net Cost of Operations 650 10,450
CORRECTION OF ERRORS THAT OCCURRED IN PREVIOUS PERIODS

PRIOR-PERIOD (PROPRIETARY) ADJUSTMENTS AND PRIOR-YEAR (BUDGETARY) ADJUSTMENTS

Page 32 of 32

January 25, 2009

RECLASSIFIED STATEMENT OF CHANGES IN NET POSITION

FOR THE YEARS ENDED SEPTEMBER 30, 2009, AND 2008

Fiscal 2009

(in thousands)

Fiscal 2008

(in thousands)

1. Beginning Net Position Balance (1,550) 0

2. Non-Federal Prior-Period Adjustments 0 0

4. Adjusted Beginning Net Position Balance (1,550) 0

5. Non-Federal Nonexchange Revenue: 0 0

6. Federal Nonexchange Revenue: 0 0

7. Budgetary Financing Sources:

 7.1 Appropriations received as adjusted (3101E) 0 (12,000)

 7.8 Other budgetary financing sources (3107E, 5700E) 0 0

 7.9 Total budgetary financing sources 0 (12,000)

8. Other Financing Sources: 0

9. Net Cost of Operations 650 10,450

10. Ending Net Position Balance (900) (1,550)